The Technological Dimension of the External Environment Includes Scientific and Technological

question 21

True/False

The technological dimension of the external environment includes scientific and technological advancements in a specific industry as well as in society at large.

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Definitions:

Market-oriented Era

The Market-oriented Era is a phase in marketing history characterized by a focus on meeting customers' needs and desires, understanding market demand, and creating value through marketing activities.

Value-based Marketing

A marketing approach that focuses on delivering products and services based on the perceived value they provide to customers, aiming to maximize customer satisfaction and retention.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically identified as product, price, place, and promotion.

Price

The amount of money required to purchase a good or service.